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On June 30, 2021, the New York Department of Financial Services (DFS) released ransomware guidance aimed at protecting financial services companies and their customers. The guidance urges each company to implement a cybersecurity program “that is proportionate to its resources and risk.” Additionally, DFS announced in its guidance that it is considering amending its Cybersecurity Regulation to add necessary ransomware protection controls. Specifically, the guidance outlines its expectations including, but not limited to, email filtering and anti-phishing training; vulnerability/patch management; multi-factor authentication; password management; and privileged access management.
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New York Department of Financial Services Announces a $1.8 Million Settlement with Two Life Insurers for Data Breach Violations Monday, July 12, 2021
The New York Department of Financial Services (“NYDFS”) recently announced that it has entered into a Consent Order with two affiliated life insurers for alleged violations of New York’s Cybersecurity Regulation (the “NY Cybersecurity Regulation”). The NYDFS conducted an investigation and determined that the two life insurers (the “Companies”) had been the subject of two phishing attacks in 2018 and 2019, which compromised the email accounts of several of the Companies’ employees, providing access to a significant amount of sensitive and personal data of their customers. The NYDFS indicated that its investigation revealed the Companies allegedly violated the NY Cybersecurity Regulation by failing to implement MultiFactor Authentication (“MFA”) without implementing reasonably equivalent or m
New York Releases Guidance for Ransomware Regulations natlawreview.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from natlawreview.com Daily Mail and Mail on Sunday newspapers.
New York Department of Financial Services Announces a $1 8 Million Settlement with Two Life Insurers for Data Breach Violations | Polsinelli jdsupra.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from jdsupra.com Daily Mail and Mail on Sunday newspapers.
This month, the Illinois Department of Insurance issued guidance to insurers recommending assessments in response to a Microsoft Exchange vulnerability, detailed in the guidance.